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Euro gains ground as AI jitters overshadow Fed rate hike bets
EUR/USD extends its recovery on Friday, trading around 1.1255 at the time of writing, up 0.32% on the day. The Euro (EUR) continues to strengthen against the US Dollar (USD), rebounding from a 16-month low of 1.1113 reached on Wednesday.
Fxstreet
Fri, Oct 16
Canadian Dollar: Bullish turn targets 1.40 against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report the Canadian Dollar (CAD) modestly stronger versus the US Dollar, helped by firmer Bank of Canada rate expectations and narrowing US–Canada yield spreads. Fair value for USD/CAD is estimated close to spot around 1.4140.
Fxstreet
Fri, Oct 16
Brazilian Real: Election-driven support with downside risks – Commerzbank
Norman Liebke at Commerzbank highlights that Brazil’s presidential run-off on 25 October between Lula da Silva and Flavio Bolsonaro is closely watched by markets. A Bolsonaro victory would likely bring more market-friendly, fiscally conservative policies and closer ties to the United States.Fxstreet
Fri, Oct 16
GBP/JPY Price Forecast: Bulls test recovery momentum below key moving averages
GBP/JPY trades on the front foot on Friday, gaining around 0.50% as broad US Dollar weakness favours the higher-yielding British Pound (GBP) against the lower-yielding Japanese Yen (JPY), which underperforms all its major peers except the Greenback.
Fxstreet
Fri, Oct 16
British Pound: UK resilience supports Sterling against Euro - Commerzbank
Thu Lan Nguyen at Commerzbank highlights that resilient United Kingdom (UK) Gross Domestic Product (GDP) data for August, beating expectations for a fourth month, give the Bank of England more room to raise rates and ease pressure on the Chancellor’s deficit-reduction plans.
Japanese Yen struggles to gain ground despite softer US Dollar
USD/JPY is little changed on Friday but heads for its first weekly loss in five weeks amid a sharp decline in the US Dollar (USD). However, the Japanese Yen (JPY) finds only limited support as its fundamental backdrop remains fragile.
Fxstreet
Fri, Oct 16
British Pound hits three-week highs near 1.3350 as the US Dollar tumbles
The British Pound (GBP) appreciates against a weak US Dollar (USD) on Friday as risk appetite improves, with global yields pulling back from highs, and investors reprice Federal Reserve’s (Fed) monetary tightening bets.Fxstreet
Fri, Oct 16
New Zealand Dollar: Inflation and weak demand challenge RBNZ – Commerzbank
Commerzbank’s Volkmar Baur describes a double bind for the New Zealand Dollar as rising monthly price indices signal higher CPI, while electronic card data show stagnating retail spending and likely negative real consumption. With markets pricing an 80% chance of a Reserve Bank of New Zealand rate hike in two weeks, he remains cautious and flags next week’s CPI as crucial.
Fxstreet
Fri, Oct 16
Euro recovers further against US Dollar amid AI sell-off narrative
The Euro (EUR) extends its recovery move to near 1.1250 against the US Dollar (USD) in the European trading session on Friday. The major currency pair started recovering after posting a fresh 16-month low near 1.1113 on Wednesday.Fxstreet
Fri, Oct 16
USD/CHF Price Forecast: Looks to defend 0.8230 confluence as USD selling remains unabated
The USD/CHF pair attracts some follow-through selling for the second straight day on Friday, extending this week's retracement slide from the 0.8400 neighborhood, or the highest since May 2025.Fxstreet
Fri, Oct 16
Japanese Yen: Range trading holds against US Dollar – UOB
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann see USD/JPY in a near-term range, expecting the Dollar to trade between 157.80 and 158.50 in the 24-hour view. For the 1–3 weeks horizon, they maintain a broader 157.50–159.05 range. Over 1–3 months, they highlight building downward momentum that points to further USD/JPY weakness, though reaching the January low at 152.08 is still uncertain.Fxstreet
Fri, Oct 16
New Zealand Dollar rallies beyond 0.5650 amid lower yields, Fed’s dovishness
The New Zealand Dollar (NZD) is showing the strongest performance among the major currencies on Friday, and rallies 0.8% against the US Dollar (USD) to hit three-week highs at 0.5667 at the time of writing.Fxstreet
Fri, Oct 16
Indian Rupee: RBI curbs speculation as Rupee strengthens – Commerzbank
Commerzbank analysts highlight that the Reserve Bank of India clarified recent derivative restrictions, limiting them to hedging FX risk rather than market-making. The measures target excessive speculation in USD/INR, which had returned near record levels.Fxstreet
Fri, Oct 16
Euro: Consolidation potential against US Dollar on CPI – ING
ING’s Chris Turner highlights that Eurozone CPI is set to be confirmed at 3.8%, well above the ECB’s target, with markets still digesting hawkish inflation forecasts and pricing around 75bp of further tightening. He sees EUR/USD supported by US tech unease and potentially extending a consolidative move toward 1.1340/50, though he expects USD/CHF to outperform on any deeper US equity correction.Fxstreet
Fri, Oct 16
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